Renewal Process Executive Jobs Opening in Source-right at Mumbai-Others, Mumbai
Renewal Process Executive
Job Description
We are looking for an ideal candidate
Absli (versant 4)
Renewal process life insurance
Graduate is mandatory
Mini 6 month of experience
Day Rotational shift 9am to 9pm window
Sunday fixed off
Linguistic required Gujrati, Malayalam and General
Work location : Airoli (Mumbai),
Notice period : Immediate to 15 days.
Interested candidate can apply
Key Responsibilities
1. Renewal Processing & Management
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Monitor and track life insurance policies due for renewal using policy administration systems.
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Generate and dispatch renewal notices to policyholders via email, SMS, and postal communication, as applicable.
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Coordinate with agents, brokers, or bancassurance partners to ensure timely follow-up with customers regarding premium payments and renewal reminders.
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Accurately input and update customer and policy details into the system upon successful renewal.
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Process renewal payments, confirm transactions, and issue official receipts.
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Ensure that lapsed policies are identified and reactivation is facilitated in accordance with company policies and regulatory guidelines.
2. Customer Interaction & Support
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Act as a primary point of contact for policyholders regarding renewal queries, including premium amounts, due dates, payment options, grace periods, and policy terms.
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Proactively reach out to customers nearing renewal via outbound calls, emails, or messages to provide reminders and assistance.
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Provide clear and accurate information to resolve customer concerns and prevent policy lapse.
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Coordinate with customer service representatives to escalate and resolve complex renewal issues.
3. Compliance & Documentation
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Ensure that all renewals are processed in compliance with company policies, Insurance Regulatory and Development Authority of India (IRDAI) guidelines, and anti-money laundering (AML) regulations.
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Maintain proper documentation of communication with policyholders and renewal activities for internal audits and regulatory checks.
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Escalate any suspicious or fraudulent transactions to the compliance team as per the escalation matrix.
4. Coordination & Cross-functional Collaboration
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Liaise with the underwriting team in case of policies that require re-underwriting due to health declarations or changes in sum assured during renewal.
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Collaborate with finance teams to reconcile premium collections, refund excess payments, or manage failed transactions.
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Coordinate with the IT and systems team for any system-related issues or enhancements in the renewal workflow.
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Work closely with the sales, retention, and claims teams to ensure smooth customer experience and handover, wherever applicable.
5. Reporting & MIS
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Prepare daily, weekly, and monthly renewal reports including metrics like renewal conversion ratio, lapsed policies, reinstated policies, payment modes, and outstanding renewals.
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Analyze renewal trends and customer behavior to support process improvements and decision-making.
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Share feedback and insights with senior management to help improve products, pricing, and customer engagement.
More information about this Renewal Process Executive Job
Please go through the below FAQs to get all answers related to the given Renewal Process Executive job
- What are the job requirements to apply for this Renewal Process Executive job position?
- Ans: A candidate must have a minimum of 06 Months to 1 year experience as an Renewal Process Executive
- What is the qualification for this job?
- Ans: The candidate can be a Graduate from any of the following: B.Com, BA, BBA/BBM, Other Graduate
- What is the hiring Process of this job?
- Ans: The hiring process all depends on the company. Normally for an entry level, hiring the candidate has to go for Aptitude, GD (If they look for communication),Technical test and face to face interviews.
- This Renewal Process Executive is a work from home job?
- Ans: No ,its not a Work from Home Job.
- How many job vacancies are opening for the Renewal Process Executive position?
- Ans: There are immediate 1 job openings for Renewal Process Executive in our Organisation.
